14 June 2001, 10:03  Japan's Imai: Economy stagnant for a few years unavoidable

Tokyo, June 14 (BridgeNews) - Takashi Imai, chairman of the Keidanren, Japan's largest business lobby group, said at a meeting with Finance Minister Masajyuro Shiokawa Thursday that it is inevitable that deflationary pressures will increase as a result of disposals of bad loans, according to a MOF official. Imai also said that Japan is ready for an economic stagnant for a few years due to deflationary pressures from structural reform. * * * According to the MOF official, Keidanren's Imai also emphasized that the business lobby group fully supports Prime Minister Junichiro Koizumi's willingness to step up structural reform and accelerate disposal of bad loans. Imai also emphasized the need for the government to determine a method for reducing government debts. Regarding local government fiscal situation, Imai called on MOF's Shiokawa for considering its reform.

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